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Top related persons:
Red - 2 it's - 2 Kim Lopdrup - 2 Jonathan Tibus - 2 It's - 1 what's - 1 Jonathan Maze - 1 Mills - 1
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Golden chow Lakeland , Florida San Francisco Thai Thailand Thai Union San Diego
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Bloomberg - 2 Seafood Alliance - 2 Restaurant Business - 1 Olive Garden - 1 LongHorn - 1 Darden - 1 Golden Gate - 1 American Realty - 1

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☆ Red Lobster Isn't Nearing Bankruptcy Because of Endless Shrimp
  + stars: | 2024-05-01 | by ( Emily Stewart | ) www.businessinsider.com   time to read: +9 min
While Red Lobster increased traffic somewhat, people coming in to chow down on all-you-can-eat shrimp was a money bleeder. But the story about what's gone wrong with Red Lobster is much more complicated than a bunch of stoners pigging out on shrimp (and, later, lobster) en masse. Red Lobster first opened in Lakeland, Florida, in 1968 and was acquired by the food conglomerate General Mills in 1970. "What's truly happened with Red Lobster is that the consumer base has changed and Red Lobster hasn't," he said. "Red Lobster isn't losing to a competitor in their space — they're losing to competitors outside their space."
Persons: It's, what's, Jonathan Maze, Mills, General Mills, Olive, Darden, Red, Eileen Appelbaum, isn't, they've, it's, Keith Bedford, Darren Tristano, John Gordon, Kim Lopdrup, Red Lobster's, He's, Jonathan Tibus, Gordon, Tristano, You've, Emily Stewart Organizations: Bloomberg, Restaurant Business, Olive Garden, LongHorn, Darden, Golden Gate, American Realty, Lobster, Center for Economic, Policy Research, Thai Union, Seafood Alliance, Thai, Fortress Investment Group, Reuters, Business Locations: chow, Lakeland , Florida, San Francisco, Thai, Thailand, Thai Union, Golden, San Diego
☆ Red Lobster seeks a buyer as it looks to avoid bankruptcy filing
  + stars: | 2024-04-25 | by ( Gabrielle Fonrouge Amelia Lucas | Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com   time to read: +4 min
The Times Square Red Lobster will be offering free all-you-can-eat lobster to a select few customers on March 28. Beleaguered seafood chain Red Lobster is seeking a buyer as it looks to avoid filing for bankruptcy, CNBC has learned. Red Lobster could secure a buyer, it could declare bankruptcy or its lenders could take control of the company. This year marks the 10-year anniversary of Darden Restaurants' sale of Red Lobster after investors pushed the company to divest. As a result, Red Lobster reported $11 million in losses in the fiscal third quarter and $12.5 million in losses the following quarter.
Persons: it's, Jonathan Tibus, Alvarez, Lobster, Kim Lopdrup, Kelli Valade, Horace Dawson, Red Organizations: Times, CNBC, Bloomberg, Red Lobster, Darden Restaurants, Golden Gate Capital, Thai Union Group, Red, Seafood Alliance Locations: Golden
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